The United States has highly competitive gas markets (spot and futures), showing prices in recent years that have definitively diverged from world oil prices. Those gas markets were not "built" in the manner of administered electricity markets. Rather, they were the result of a revolution in...

Collective action on the part of America's utilities spurred the pipeline reforms that culminated in our competitive gas market. But, in the decade since then, the returns of many interstate pipelines have drifted up to surprisingly high levels. To square pipeline rates with costs for the relief...

<DIV>With global demand for energy poised to increase by more than half in the next three decades, the supply of safe, reliable, and reasonably priced gas and oil will continue to be of fundamental importance to modern economies. Central to this supply are the pipelines that transport this energy....</div>